6 Reasons Using a Bank Safe Deposit Box Is Actually Risky

Compensation varies from bank to bank

The average safe deposit box might cost $20 monthly to rent. If your items are lost, you might receive an amount commensurate to annual multiples of rent. Wells Fargo liability cap is $500. JP Morgan Chase has a $25,000 cap. A bank might force you to accept updated terms, even if you’ve rented for decades.